Deere & Company (NYSE:DE) Given Consensus Recommendation of “Hold” by Brokerages

Deere & Company (NYSE:DE) has received a consensus rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $516.75.

Several brokerages have recently commented on DE. Morgan Stanley upped their price target on Deere & Company from $450.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 16th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $460.00 target price (up previously from $425.00) on shares of Deere & Company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. increased their target price on shares of Deere & Company from $490.00 to $540.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Baird R W downgraded shares of Deere & Company from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, Evercore ISI upped their price objective on shares of Deere & Company from $455.00 to $493.00 and gave the stock an “in-line” rating in a report on Monday, May 19th.

Deere & Company Stock Performance

NYSE:DE opened at $509.83 on Monday. The company’s 50-day moving average is $472.60 and its two-hundred day moving average is $459.05. Deere & Company has a 1-year low of $340.20 and a 1-year high of $533.78. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.22 and a quick ratio of 1.98. The firm has a market capitalization of $138.37 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.14 and a beta of 1.08.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.92. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $10.80 billion. Deere & Company had a return on equity of 27.31% and a net margin of 12.94%. The firm’s quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $8.53 earnings per share. Analysts forecast that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 8th. Stockholders of record on Monday, March 31st were paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, March 31st. Deere & Company’s payout ratio is currently 31.35%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Park Avenue Securities LLC lifted its stake in Deere & Company by 39.1% in the fourth quarter. Park Avenue Securities LLC now owns 4,724 shares of the industrial products company’s stock worth $2,001,000 after acquiring an additional 1,328 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Deere & Company by 17.5% in the 4th quarter. Ritholtz Wealth Management now owns 3,419 shares of the industrial products company’s stock valued at $1,449,000 after purchasing an additional 510 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of Deere & Company by 11.8% during the 4th quarter. Merit Financial Group LLC now owns 8,464 shares of the industrial products company’s stock worth $3,586,000 after purchasing an additional 890 shares during the last quarter. Lake Street Private Wealth LLC lifted its position in shares of Deere & Company by 19.9% during the 4th quarter. Lake Street Private Wealth LLC now owns 777 shares of the industrial products company’s stock worth $329,000 after purchasing an additional 129 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. grew its stake in shares of Deere & Company by 5.4% during the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 5,998 shares of the industrial products company’s stock worth $2,541,000 after purchasing an additional 307 shares in the last quarter. 68.58% of the stock is owned by institutional investors and hedge funds.

About Deere & Company

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.